August 24 (SeeNews) - Romanian automation and utility services and equipment provider Vestra said on Tuesday that it has invested 180,000 euro ($211,038) in local cash flow analysis and planning platform ThinkOut.
Vestra's decision to invest in the ThinkOut platform was based primarily on the growing need to digitize and automate processes within small and medium-sized companies, it said in a press release.
"This investment, an example of a 'Win-Win' partnership, demonstrates that when there is vision and determination, there is no obstacle to achieving a performance-oriented partnership between a start-up and a cluster specialized in industry, familiarised with the latest technologies and models of process automation," Vestra managing partner Vlad Iftime said.
"We expect to identify a positive impact of the platform on the European market and to turn ThinkOut into a Romanian business connected to the economy of Central and Eastern Europe. We also rely on consolidating partnerships in Romania, Hungary and Poland."
Vestra has been providing equipment and services in the utilities and automation industry for the last 25 years. The company implements projects that focus on public utilities and smart metering through SMART-type communications while contributing to the protection of the environment impacted by climate change.
Founded in 2016 in the northeastern city of Iasi, ThinkOut is a dedicated cash flow analysis platform for small and medium-sized companies. The platform provides a real-time overview of companies' performance and a good understanding of the future based on the history of transactions in bank accounts.
($=0.8529 euro)